JOE ONE
JOE ONE is a Texas oil lease in Lee County, Railroad Commission district 03, operated by Magnolia Oil & Gas Operating LLC. It has 1 wellbore on file with the Commission. Reported production runs from June 2024 to August 2026, totalling 212,349 barrels. The lease is currently producing. Fitting a decline curve to that history and pricing the remaining production at today's forward curve values the whole lease — a 100% undivided interest — at about $2.4M, with roughly $1.7M expected over the next twelve months. An individual royalty owner receives their own decimal interest times that figure. Over the last twelve months on file it averaged 5,484 barrels a month. Its strongest month on the record we hold was July 2024, at 17,068 barrels. In our own backtest, leases producing at this rate are forecast to within about 17% of what they went on to produce, and that measured error is the range shown on the page rather than a confidence of our own devising.
Key facts about JOE ONE
- Who operates JOE ONE?
- JOE ONE is operated by Magnolia Oil & Gas Operating LLC, Railroad Commission of Texas operator number 521544.
- Where is JOE ONE?
- JOE ONE is a Texas oil lease in Lee County, Texas, in Railroad Commission district 03. Its Railroad Commission lease number is 28182.
- Is JOE ONE still producing?
- JOE ONE is currently producing. The most recent month of production reported to the Railroad Commission of Texas for JOE ONE is August 2026.
- How much has JOE ONE produced?
- JOE ONE has reported 212,349 barrels of oil (bbl) to the Railroad Commission of Texas between June 2024 and August 2026, from 1 wellbore.
- How much is JOE ONE worth?
- The remaining production from JOE ONE is estimated to be worth about $2.4M in total as of 26 August 2026, within a range of $2.0M to $2.8M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in JOE ONE is a fraction of it. The estimate fits an Arps decline curve to the production JOE ONE has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for JOE ONE is an estimate of value, not an offer and not an appraisal.
- How much income does JOE ONE generate in a year?
- JOE ONE is forecast to net about $1.7M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in JOE ONE receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Magnolia Oil & Gas Operating LLC |
|---|---|
| Field | Giddings (Austin Chalk-3) |
| County | Lee County, Texas |
| RRC district | 03 |
| Lease number | 28182 |
| Wellbores | 1 |
| Reported production | 212,349 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $2.4M |
Where JOE ONE sits
Source: Railroad Commission of Texas lease production records, complete through . Figures on this page were computed on .
Production figures are as reported to the Railroad Commission of Texas. The value shown is an estimate produced by fitting a decline curve to that reported history; it is not an offer or an appraisal. How this estimate is calculated.